Passador Bank, a private bank based in Genoa and 25 branches in Italy, closed 2023 with a useful record of 80,6 million euros, up 130% compared to the previous year. return on equity (RoE) was 29,5%.
I deposits amount to 4,553 billion euros, an increase of 8,7%, while i total assets administered they rose to 10,904 billion euros (+13,2%). THE customer loans they reached 2,181 billion euros, with an increase of 4,8%. The ratio between net impaired loans and total loans is 1,17%, with a coverage ratio above 60%. The capital ratio CET 1 ratio is estimated at 16,4%.
“The significant appreciation of customers for the solidity and quality of the services provided, as well as the effectiveness of the operating model, means that all the financial and economic data show strong growth compared to the previous year and are largely configured as best in the history of the bank", we read in the Banca Passadore press release.
The history of Banca Passadore
Banca Passadore & C. is an independent private bank that has been offering services to private customers and businesses since 1888. Founded in Genoa by Luigi Passadore, the bank supported the maritime and port trade of the time. In the following decades, the bank adapted its characteristics to the market while maintaining independence and autonomy. Between 1960 and 1980, the bank further consolidated its development, inaugurating a new headquarters and managing the information system internally. In the 80s, the Passadore family bought back the shares of the other partners, forming the current shareholder base. Starting in 1988, the bank launched a targeted territorial expansion program, maintaining its peculiar operating model.
Its operating model is based on competitiveness and care for the relationship with the customer, without external influences. Its growth has been gradual and targeted, maintaining its operational peculiarities. In a transforming banking market, the bank has maintained its over a century-old identity, based on solidity, prudence and quality of services, preparing for future development. The bank aims for long-term growth, maintaining its identity and reputation for efficiency and professionalism.
